Massive action: ED raids 8 premises of real estate firm
Chennai: The Enforcement Directorate has raised eight premises of a real estate company in Chennai in relation to alleged irregularities by the company in foreign transactions.
One of the premises raided by the ED is in Veppery and another on NSC Bose Road. The ED had previously registered a case against the company under the Prevention of Money Laundering Act for the deals conducted by the company offshore.
“The group was earlier engaged in money lending business and later they got into real estate. There are already many complaints against the group and some complaints are being probed by the Chennai CCB, including a case of land grabbing worth Rs 200 crore,” ED sources said, without naming the company.